Parachute, CO – July 30, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of the Cottonwood View Apartment Homes located in Parachute, CO.
Advisors Jack Sherman and Dan Hawthorne, with Principals Matt Lewallen & Kevin Calame (NorthPeak Commercial Advisors) represented the Buyers in this transaction.
“Our clients are excited to grow their portfolio footprint along the I-70 corridor on the western slope of Colorado and acquire such a notable property in the town of Parachute.” – Jack Sherman, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Jack Sherman at 303-903-9638 or Jack@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Address: Cottonwood View Apartment Homes | 200 Colorado Ave., Parachute, CO 81635
- Number of Units: 192
- Total Building SF: 201,600
- Sale Price: $19,500,000
- Sold Date: July 30, 2021
- Price Per Unit: $101,563
- Price/SF: $97
- Cap Rate: 6.3%
About Cottonwood View
Cottonwood View itself is located beside the Colorado River and borders a State Wildlife Area. A short walk from the complex are baseball and soccer fields as well as a park which is not only fun for children, but hosts many town events such as Grand Valley Days, as well as a family friendly Oktoberfest celebration. Battlement Mesa Golf Club is also located just a few short minutes up the hill from the Apartment complex. The Rec Center, as well, isn’t too far from the golf course and hosts a work out room as well as an indoor swimming pool, racquetball court and basket ball court, as well as many other activities. Public Fishing is available in the Colorado River and Parachute Pond.
The units themselves are quite large; 950 sq ft for 2 bedroom apartments and 1,150 sq ft for 3 bedroom apartments. Every unit comes complete with its own wood burning fireplace, large living room areas and spacious walk-in closets. Find more information at https://cottonwoodview.wixsite.com/cottonwoodviewapts.
